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[india] second home loan

pooja jain
greenhorn
Ranch Hand

Joined: Jan 12, 2005
Posts: 213
do we get tax exempt on second home loan?


:d
David O'Meara
Rancher

Joined: Mar 06, 2001
Posts: 13459

This second house cannot be treated as self occupied because you already own a home in which you are staying.

The tax department views this second house to be 'let out' (they assume you will lease it out on rent).

As a result, you will not enjoy the benefit of principal deduction.


http://www.rediff.com/getahead/2005/apr/27home.htm

I continue to wonder why these questions get asked on a java site

See also: Google

[ January 04, 2008: Message edited by: David O'Meara ]
[ January 04, 2008: Message edited by: David O'Meara ]
Harsha Jay
Ranch Hand

Joined: Jul 23, 2001
Posts: 177
I continue to wonder why these questions get asked on a java site


I believe because of this statement.

According to Paul Wheaton (200x)

After adding a whole bunch of Java forums, I added one forum called "Meaningless Drivel" just for hoots. I thought the forum could serve two purposes:
  • If somebody posted something non-Java-ish in a Java forum, I could have a place to move it without deleting it.
  • If I felt like talking about something other than Java with a bunch of geeks, I could have a place to do that.



  • Source


    [ January 04, 2008: Message edited by: Harsha Jay ]
    Paul Clapham
    Bartender

    Joined: Oct 14, 2005
    Posts: 19113
        
        8

    True. But also look at what it says at the top of the forum:
    Please note that posts that have meaning or are not drivel, stand a good chance of getting deleted.
    In other words if you post a serious question here, be prepared for non-serious answers and for outright drivel.
    Harsha Jay
    Ranch Hand

    Joined: Jul 23, 2001
    Posts: 177
    True, I thought the earlier post questioned about relation to java.

    Its friday!! anyone...
    [ January 04, 2008: Message edited by: Harsha Jay ]
    David O'Meara
    Rancher

    Joined: Mar 06, 2001
    Posts: 13459

    It wasn't meant as an attack on the original poster, and my apologies if offense was taken, but sometimes things are important and asking semi-random strangers is not my recommended approach.

    While a link to the opinion on a single web page isn't much better, I do think this is something that should be researched by the individual.
    Sandip Sankeshwar
    Ranch Hand

    Joined: Jun 27, 2006
    Posts: 210
    Second home loan? :roll: .Must be rich person. I am still living on rent thinking about first home.
     
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    subject: [india] second home loan